Common use of Lump Sum Proposal Clause in Contracts

Lump Sum Proposal. Prior to performing any work, the Contractor will within ten (10) days after receipt of the Owner's or Construction Manager’s communication submit its Lump Sum Proposal. This Proposal will be itemized and segregated by labor and material for the various components of the Work. No aggregate labor total will be acceptable. The Contractor will furnish with its Proposal supporting data consisting of subcontractors' and vendors' signed proposals. The Contractor will be allowed a maximum xxxx-up of 15% for overhead and profit on labor performed by its own forces and material purchases. Subcontractors, likewise, will be permitted a maximum xxxx-up of 15% for overhead and profit on labor performed by their own forces and material purchases. The Contractor will be further allowed a maximum xxxx-up of: (a) 6% on all of its subcontractors' Work; and (b) 6% on equipment rented by the Contractor or subcontractor. In no case shall the aggregate xxxx-up for the Contractor and all of its tiered Subcontractors exceed 21% of the actual cost of the extra Work. A wholly owned subsidiary, sister, joint venture, related companies or a company in which the Contractor has a majority interest will not be considered as Subcontractor when calculating overhead and profit xxxx- ups. The Contractor may include in its labor proposal only those workmen and foremen directly involved in the Work. All other supervision is included in the 15% overhead and profit xxxx-up

Lump Sum Proposal. Prior to performing any work, the Contractor will within ten (10) days after receipt of the Owner's or Construction Manager’s communication submit its Lump Sum Proposal. This Proposal will be itemized and segregated by labor and material for the various components of the Work. No aggregate labor total will be acceptable. The Contractor will furnish with its Proposal supporting data consisting of subcontractors' and vendors' signed proposals. The Contractor will be allowed a maximum xxxxmark-up of 15% for overhead and profit on labor performed by its own forces and material purchases. Subcontractors, likewise, will be permitted a maximum xxxxmark-up of 15% for overhead and profit on labor performed by their own forces and material purchases. The Contractor will be further allowed a maximum xxxxmark-up of: (a) 6% on all of its subcontractors' Work; and (b) 6% on equipment rented by the Contractor or subcontractor. In no case shall the aggregate xxxxmark-up for the Contractor and all of its tiered Subcontractors exceed 21% of the actual cost of the extra Work. A wholly owned subsidiary, sister, joint venture, related companies or a company in which the Contractor has a majority interest will not be considered as Subcontractor when calculating overhead and profit xxxx- mark- ups. The Contractor may include in its labor proposal only those workmen and foremen directly involved in the Work. All other supervision is included in the 15% overhead and profit xxxxmark-up